Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly indexes for most grades of domestic brass scrap in Delhi and Jamnagar rose due to supply shortage. Imports are slow. The three-month copper contract on LME rose by 15.80pc to settle at $8,160/mt on Jan 8 since Nov 19 and then settled at $,7,992/mt on Jan 19, up by 13.41pc, pushing the import prices up. 


Jamnagar witnessed improvement in demand from domestic and Chinese markets. 


Chinese bids for brass billets are at $4,915- 4,955/mt, slightly down from $5,010/mt China prior week. Jamnagar manufacturers reported a rise in the Chinese bids for billets since last few weeks. Jamnagar exports 2,000/mt of brass ingots to China per month. 


The weekly Davis Index for imported Honey brass Wednesday settled at Rs358,000/mt del Delhi consumer, up by Rs9,000/mt ($123.27/mt) while in Jamnagar, the weekly index settled at Rs362,000/mt del consumer, up by Rs1,250/mt. 


In Delhi, the weekly Davis Index for Honey domestic origin (Purja) settled at Rs346,000/mt del consumer, up by Rs10,000/mt while the index for Honey domestic origin (Vilayati) in Jamnagar settled at Rs351,250/mt del consumer, up by Rs5,250/mt.


($1= Rs73.01)


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